Paul Pelosi Jr, Nancy Pelosi’s son, has been connected to at least five companies that the FBI was investigating for alleged fraud. The Daily Mail first reported the story and alleges that Nancy Pelosi’s son has connections to a long list of fraudsters and convicted criminals. Paul has never been charged for any of the alleged crimes that these companies committed.
Shortly after his mother became Speaker of the House in 2007, Paul was hired by InfoUSA, which was a database marketing company run by Vinod Gupta. Years before Paul joined the company, Gupta was being investigated by the Iowa Attorney General’s Office for selling consumer data to fraudsters
Sources allege that the fraudsters used the information to scam elderly and sick people out of their money. No arrests were ever made, and the investigation was over by the time Paul Pelosi Jr joined the team.
At the time of his hiring, some sources alleged that Paul was hired to improve the company’s image by being connected to the powerful Pelosi family. The now 52-year-old denied these claims.
He said, “I don’t think that’s really what happens,’ he told NewsMax in 2007. ‘I don’t see it that way, but I could see why you’d ask the question… I guess you always wonder why somebody hires you, right?”
After working for InfoUSA, Paul Pelosi Jr was picked to be the president of Natural Blue Resources, an environmental investment company. The mission of the company was to “create, acquire, or otherwise invest in environmentally-friendly companies, including an initiative to locate, purify, and sell water recovered from underground aquifers in New Mexico and other areas with depleting water resources.”
An SEC investigation later discovered that the company was secretly run by two known criminals, and they were using Paul as a front, so they didn’t have to disclose their criminal backgrounds to investors. Toney Anaya, former New Mexico governor and attorney general, was also used as a face of Natural Blue Resources.
The criminals, James Cohen and Joseph Corazzi, had previously been charged with fraud. Cohen had served time in prison for his fraud charges and Corazzi was charged with breaking federal securities laws. He was banned from acting as a public company’s officer.
Anaya was later charged for his role in the company, but the SEC found no reason to charge Paul Pelosi Jr. They said that he played no “meaningful role” in the company’s fraud schemes and he later testified for the prosecution.
After his time with Natural Blue Resources, he moved on and became vice president of FOGFuels, a biofuel company in 2013. A month before Nancy Pelosi’s son joined the team, the SEC opened an investigation into the company and its founder, Paul Marshall. The investigation alleged that Marshall stole over $3 million from elderly investors.
The complaint said that the stolen money went “to pay for a variety of Marshall’s personal expenses, including luxury vacations, child support and alimony payments, and private school tuition and camps for his children.”
The company was dissolved in 2015, and Paul Marshall went to jail for six years starting in 2018.
Paul Pelosi Jr. then went on to work with Targeted Medical Pharma and Corporate Governance Initiative. The Speaker of the House’s son only stayed with Targeted Medical Pharma for seven months before leaving. After he left, the company was investigated by the Food and Drug Administration for conducting unauthorized drug trials.
In 2016, Paul started working with Oroplata Resources, a lithium mining company. A month before Paul joined, the company was accused of giving out fake shares. Nancy Pelosi’s son allegedly got 2.8 million shares in the company when he joined.
It is unclear how much Paul Pelosi Jr knew about these fraudulent incidents. Nancy Pelosi has not commented on her son’s involvement, and it is unclear if an official investigation will be issued against her son.